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Hey guys and girls
Welcome back to the 'Making Of A Marketing Company' series where my business partner,
Kieran and I create the latest marketing agency here in Western Australia.
I'm showing you our journey so you don't have to make the same mistakes as we do.
In this episode, we discuss what social media services we're going to be offering and touch
on our pricing.
My name is Jake Owens and this is Millionaire Mindset Hub.
Alright, let's get into it.
Kieran: Um.. So that's kinds good though because if I do.. Say I do a campaign on Facebook
it already goes to Instagram
Jake: You might not want it to.. To do that though, you might want to have different things
depending on the audiences that they attract on the two platforms
Kieran: Yeah, yeah, yeah so I'm sure.. Yeah that's what I was going to say I'm sure you'll
be able to change that. It probably gives you the option to click.. Um.. Both or just
pick the..
Jake: Oh, it does.
Kieran: It does? Yeah. Um.. so that's cool. Umm.. Haven't really looked at.. I can't really
remember what we discussed with Snapchat.. we said no didn't we? Because it's a location
based thing and we're not really there to do it.
Jake: I mean it depends on the client. I mean like.. the client would have to be very, very
involved but if they were willing to do that then I don't see any reason why we wouldn't
do Snapchat.
Kieran: Yup, what was the other one? I swear there was another one we discussed..
Jake: Live streaming?
Kieran: Yeah that's Facebook though.. isn't it?
Jake: No that's individual apps like Live.Me and YouNow, YouTube live streaming, Facebook
live streaming all that stuff although that's quite heavily client involved as well so unless
they want to do it then probably not.
Kieran: And we said like.. I know Twitter's a no, Pinterest.. mmm.. that's all I can think
of to be honest..
I'm going to have a good look through the App Store and see what's popular in terms
of going under social media.
Jake: That's a good idea.
Kieran: And see what's going down.
Jake: Yup, definitely.
Kieran: Yes, um.. and then.. what else I done today. And the cool thing actually with Facebook
Advertising ,is like.. you can go into.. behavioural and based on what they like so for example
someone likes Power Aid and you're advertising Coke you can use that so you advertise to
people who like Power Aid. I thought that was cool. I didn't know you could do that.
And then you can also do their behaviour types as well, so like as well as life events if
they've put up "just had a child" then you can target that. It's cool, as I said I hadn't..
Didn't know that much about the actual ad.. like not ads but the actual campaign side
of it. So it's kinda cool looking at it. What else have I done.. just generic stuff really..
um.. oh! The good thing was which I mean.. I should have really known this but I didn't,
was the fact.. it's kind of obvious but.. the fact you can pre-do posts and then set
it for a scheduled time. So.. that's something.. and then I sort of just looked into how much
people charge. Now the thing is, I've got two ways of thinking about this. I know that
you're taking money up front.. no, no you're not. You're paying for it and then getting
the money later right?
Jake: Mmhmm
Kieran: So you're taking the costs up front, I don't know whether.. that is something I
could do.. however, I've got mixed opinions on that.. but the first thing I need to discuss
with you is that.. so like.. I thought I could do four main things with social media. This
is in particular with Facebook. First of all.. um.. I can have ongoing management of the
Facebook page right. So we'll say that's.. so that's just content writing, everything,
which is what I discussed with you. Um.. posting, keeping it up to date so if they don't want
to actually be in charge of it then I'll take that over. Um.. I think that would be quote
based, because obviously it depends what they want. Um.. obviously I'll need to think of
pricing. Um.. that's another thing actually, do we put the pricing on the website or are
we quote based? Because I know that there's an argument for not putting pricing on websites..
Jake: What're your thoughts?
Kieran: Um.. I have done it before, only because I was targeting people that really just wanted
a cheap website.. um.. I know that like.. with that fact that other people can.. well
competitors can really easily undercut what you're charging.. then you've got that game
of who can offer the cheapest. Um.. so.. I don't know. I think with this though, it's
not like we can set a standard fee because if you're a massive organisation verses if
you're little Mickey down the road we're going to be charging two different rates. So, I..
I think quote's better but you can do 'starting from' prices.
Jake: That's a good idea.
Kieran: So that gives them an indicator of how much.. I know, back to what I was saying
was I think I'll do quote based for the actual ongoing management because that will really
honestly depend on what they want and also the fact that in that if I'm involving AdWords
campaigns because obviously I could do an organic based one or I can do paid media.
If they want AdWords campaigns then, obviously it will cost more because it's like $20..
well it's not quote $20.. well it can be whatever.. I think the lowest prices you can set it was
$10 a day. From what I saw, but I'll have to go through that so that's something we'd
have to discuss but I don't know.. because there's two options here. A) I go daily..
so say I'm going to spend $20 .. Well.. it depends what they want but say they want $20
a day on the campaign.. so there's that option or.. there's just a standard rate they say
"I want to spend" .. because you can do lifetime which is just like a duration based one so
say they only want to spend $300 all up on the campaign and then that way you can set
a cap on that and then you set it and then it won't go past that amount.
Jake: Alright, so the thing is about that.. is we need a minimum quote or a minimum charge
because at $20 a day we're not going to be able to make any money.
Kieran: Yeah I know, that's why I think that I prefer the cap that you just have a lifetime
value because then they can say "I can make" .. but the problem is right, because I'm not..
whatever I charge isn't just going to be based on the whatever.. the actual campaign it's
going to be based on the actual management of the page as well. So it isn't just a one
figure "Okay, this is going to cost you X amount" it has to be.. it has to be a standardised
rate just for that and then the actual campaign and depending what they want will then determine
how much extra is costs right.
Jake: Okay.. I don't get what you mean.
Kieran: So, you know how I want to manage the page?
Jake: Yeah, but those are two different things, managing a page and actually creating a campaign
are two different things.
Kieran: Yup, I'm aware of that and that's why I'm getting to that. So.. that's why I
want to offer one which I do both, right? So that's like the full lot. One where I just
do campaigns, and one of them which is organic based so they don't do any campaign.
Jake: So, what does organic look like?
Kieran: Organic just.. so it's you own media. So creating content, all that sort of stuff..
getting reach.. it would be roughly.. they recon you should do about one post a day which..
I mean to me it's quality over quantity.
Jake: Well, not necessarily.
Kieran: What?
Jake: Quality over quantity, because the thing is you could be working on something and you
think that it's great but the market decides.
Kieran: Yeah, but if I wrote out a post saying "Hello, this is Bobby here" and then that's
it full stop.
Jake: No, of course. It needs to provide value, but value and quality are two different things.
Kieran: Yup, so it depends on.. but then again it depends on what I'm going it on. It just
depends on the company what I do, the other thing is you can analyse.. this depends on
how many likes we've got.. how often like.. they've got an analytics thing that shows
you like the peak hours and all that sort of thing. So scheduling on that based on specific
times when people are most viewing it.. that's probably the way to go with that. Um.. what
was I writing about that.. yeah so organic management if they just want a one off campaign
was another thing, like that's all they wanted to do they've already set up the social media
blah, blah, blah, blah, blah. Ongoing management with AdWords, most companies do that already
so that's pretty standard, um.. but then again I don't know I need to figure out the pricing.
I think I'm going to go quote based because it's to.. with that one in particular, to
difficult to give you a number. And then the other thing I was thinking was like just set
up of a brand on Social Media. If they haven't done it already.
Jake: What you should do is work out what percentage or what minimum rate is going to
be charged as management fees per week and then work out how much to charge them minimum.
Kieran: Yup, I've looked into that. The figures I saw from.. these are obviously bigger companies
from what I saw online and that is including AdWords was they were charging.. $2500 per
month, starting. Now, that does depend on a few things. But that is how much they're
charging with AdWords.
Jake: So $625 per week.
Kieran: Yup, as I said this would depend on what I had to do.. if it was just one post
a week or something really basic obviously it wouldn't be that rate.
Jake: But it has to be a minimum, because the thing is if we're only making like.. $10
a week because it's only one post that's not even worth out time.
Kieran: Yeah, obviously.
Jake: So, there needs to be some sort of minimum.
Kieran: Well that's why I think I would just set out what I'm going to do for that money.
Jake: That's a good idea.
Kieran: Yup, rather than them say what I'm going to do. So it would be the other way
around.
Jake: Yup, definitely do that.
Kieran: The other thing I was going to say is.. similar to AdWords you can set how much
you're willing to pay per click or you can do by impressions, but I think to me it's
better per click to do it, I mean impressions I think is cheaper but then.. like, that could
just literally be me scrolling up and literally scroll straight past it and not even pay much
attention to it like most people would and then that's just wasting money.
Jake: Being able to tell a client that you don't pay anything unless someone actually
clicks on an ad who is interested in your product or service is a really, really good
hook.
Kieran: Yeah exactly. And then the other thing that I was going to tell you.. oh yeah that
was the other thing, so you can when it comes to AdWords.. oh yeah there's two things you
can.. not AdWords, I keep saying AdWords.. When I say.. Like the Facebook Campaign, you
can.. I don't know if this is a good idea or not but like you can exclude particular
groups from the campaign. One of them is connections, which is people who already like that page
and I think it depends on the objective of this campaign but if the objective is to get
more likes I would personally.. I would have that the current likes like we don't target
people that already like the page because what's the point?
Jake: Well, the point is the interaction of the customer. Because if your audience is
really, really interactive, then they're going to be sharing the post and they're going to
be liking it which means all of their friends are going to see it. But if they don't interact
with it at all then that's just stupid, like there's no point. So it just depends on the
audience and their interaction rate.
Kieran: Yup, so that brings me to the second thing, the other thing you can do is you can
not target the people who already like it but you can target their friends.
Jake: That's a good idea.
Kieran: So, whoever likes it, yeah it targets the friends of those people.
Jake: It still doesn't.. we're going back to the original thing though, you're friends
with friends will usually like the same stuff. However, if your friend shares a post you're
more likely to look at it or read it then if you were just shown an ad because of word
of mouth. So that's the only other thing but if your audience isn't very interactive, then
that's a really good idea.
Kieran: Yup, and what was the other thing I was going to talk to you about.. oh yeah!
The other thing, if you're into the email marketing thing you can use that thing with..
with Facebook and what it does is it invites people to like the page or follow the content
on that page.
Jake: Oh that's a good idea, however people won't be using their.. their business emails
as a.. as a thing but they might be using their LinkedIn.
Kieran: Yeah exactly, and I think that is probably more like.. if you're looking for
client base rather than.. because we'll be buying lists for companies rather than..
Jake: What do you mean?
Kieran: So, I think like that actual process would be for if you either had A) a website
and you already had a database full of people for your newsletter or whatever um.. or..
whether you just had contacts.. you know how you can actually buy contacts other than organisation
contacts just random people's emails? I think that's probably what it's more for rather
than for a business.. like business contacts. So there's that, so I saw that.. what else
was I going to tell you.. they've got a cool thing on it which actually shows you like..
how many people its gonna.. your demographic.. like how many people you're targeting um..
obviously the less number the better because it's more specific, it's got like a gauge..
what was I going to tell you.. something else.. and then I had a look at all the different
types of campaigns they offer, they're all sort of generic like.. well they're good for
different things but they're standard.. you'd probably be able to think of them. Yeah, I
think that was all. Um.. I'm sure there's other stuff cause I wrote quite a lot.
Jake: Well, it sounds like you're learning your stuff.
Hey guys and girls!
Thanks for watching :D
I really hope that you enjoyed this episode, if it brought you any value at all and you
feel that way inclined please hit that subscribe button and like the video.
If you've got any questions, or would just like to reach out and say "Hi!" please do
so ini the comment section below or PM me.
Thanks a ton for watching again
I look forward to seeing you in the next episode!
Cheers!! :-)
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